Capitalism And Freedom?
Document Type
Article
Publication Date
3-1-2010
Published In
Economic Systems
Abstract
This essay tests Milton Friedman's conjecture that capitalism is a necessary condition for political freedom. For the decade around 2000 indices of the degree of capitalism and the degree of political freedom are highly correlated and provide plausibility for Friedman's conjecture. In looking at changes over time in the nineteenth century, however, the analysis refutes Friedman's conjecture. These apparently contradictory results are reconciled by showing that both capitalism and freedom are related to such variables as the educational level of the population so that, although not causally tied, they are correlated in a cross-national comparison.
Recommended Citation
Frederic L. Pryor.
(2010).
"Capitalism And Freedom?".
Economic Systems.
Volume 34,
Issue 1.
91-104.
DOI: 10.1016/j.ecosys.2009.09.003
https://works.swarthmore.edu/fac-economics/132